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International Business Times

Business

Merin Rebecca Thomas

Traders Betting On a Quick Resolution Of The Iran War Could Be Badly Burned, Report Warns

Iran Oil Matt Britzman CNBC United States

Brent crude, the international benchmark, climbed above $96 a barrel, while U.S. West Texas Intermediate futures traded above $90 following reports of renewed missile strikes between Washington and Tehran. (Credit: AFP)

Analysts and traders are struggling to respond to rapidly changing oil prices as conflicting developments regarding the war in Iran contribute to large swings practically on a daily basis.

Callum Macpherson, head of commodities at Investec, said investors are finding it "incredibly hard" to interpret market signals amid contradictory statements from Washington and Tehran, CNBC reported.

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